Posted by EGH on March 13, 2000 at 19:44:36:
In Reply to: witholding a tax abatement posted by susan on March 13, 2000 at 15:31:28:
: the cooperative in which i unfortunately live, has traditionaly given back, in full, all tax abatements to residents. this year they are electing to "retain" this abatement. If we have a tradition inthe building, can they withold this money from us? Is there a web site for cooperatives that is comprable to tenant.net? Thank you.
Yes, it can retain the abatement. A Board of Directors of a cooperative has wide latitude with this type of policy, in spite of any traditions in the building. The Council of New York Cooperatives has a web site (cnyc.com) with links related to coop issues; Habitat Magazine (habitatmag.com) has a question and answer section similar to this. Both are oriented to Coop Boards and the real estate industry in general, and neither is as good as tenant.et.
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